Bailard Inc. Trims Stock Position in First Industrial Realty Trust, Inc. $FR

Bailard Inc. lessened its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 68.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,814 shares of the real estate investment trust’s stock after selling 12,886 shares during the period. Bailard Inc.’s holdings in First Industrial Realty Trust were worth $299,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FR. Norges Bank purchased a new position in shares of First Industrial Realty Trust during the 2nd quarter valued at $272,085,000. Prudential Financial Inc. raised its holdings in First Industrial Realty Trust by 29.0% during the second quarter. Prudential Financial Inc. now owns 2,617,338 shares of the real estate investment trust’s stock valued at $137,215,000 after acquiring an additional 588,208 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in First Industrial Realty Trust by 7.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,366,674 shares of the real estate investment trust’s stock valued at $113,908,000 after acquiring an additional 153,817 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its position in shares of First Industrial Realty Trust by 13.2% in the second quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,342,835 shares of the real estate investment trust’s stock valued at $112,761,000 after acquiring an additional 272,638 shares in the last quarter. Finally, PGGM Investments lifted its position in shares of First Industrial Realty Trust by 46.0% in the third quarter. PGGM Investments now owns 2,337,100 shares of the real estate investment trust’s stock valued at $120,291,000 after acquiring an additional 736,477 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

Shares of FR stock opened at $57.36 on Friday. The company has a market capitalization of $7.60 billion, a P/E ratio of 32.04 and a beta of 1.14. The company’s 50-day simple moving average is $57.80 and its two-hundred day simple moving average is $53.91. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $60.20. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.91 and a quick ratio of 0.91.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 20th. Investors of record on Wednesday, December 31st were given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, December 31st. First Industrial Realty Trust’s dividend payout ratio is currently 99.44%.

Insider Buying and Selling

In other news, CIO Johannson L. Yap sold 680 shares of First Industrial Realty Trust stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total transaction of $39,691.60. Following the completion of the sale, the executive directly owned 3,770 shares in the company, valued at approximately $220,054.90. The trade was a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.06% of the company’s stock.

Analyst Ratings Changes

FR has been the topic of a number of research analyst reports. UBS Group set a $62.00 price target on First Industrial Realty Trust in a report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Industrial Realty Trust in a research report on Friday, October 31st. JPMorgan Chase & Co. boosted their target price on shares of First Industrial Realty Trust from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Barclays reaffirmed a “positive” rating and set a $64.00 target price on shares of First Industrial Realty Trust in a research note on Tuesday, January 13th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $58.00 price target on shares of First Industrial Realty Trust in a report on Monday, January 5th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, First Industrial Realty Trust has a consensus rating of “Moderate Buy” and a consensus price target of $62.46.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.